Shah Faisal Afridi stresses to provide residence cards to Chinese investors on the pattern of developed countries

Lahore, March 29, 2016 (PPI-OT): Shah Faisal Afridi, President Pak-China Joint Chamber of Commerce and Industry has necessitated to provide residence cards to Chinese investors on the pattern developed countries. In this regard President PCJCCI wrote a letter to Chairman, Board of Investment to bring the matter into his consideration.

In a press statement issued today Faisal Afridi said “We, at PCJCCI, continuously receive business delegations from China intending to invest in Pakistan’s key business segments. Among other things, the premier concern of prospective investors is how to obtain residence card of Pakistan on the pattern of European countries which may provide them to reside and invest for at least five years instead of one year multiple entries visa pasted on their passports.

He proclaimed that due to economic challenges and political pressures, Pakistan should restructure its internal policies and procedures to attract businessman and investors to the country. One way of doing this is through corporate immigration, more relaxed tax legislation and favorable treaties. The other way is through providing special Citizenship by Investment programs, added Afridi.

He maintained that issuance of residence card will provide strength and confidence to prospective investors. Further, the holder of this card may get some additional benefits including Airport protocol, convenience to dealing with government departments, issuance of specific licenses, selling and purchasing of industrial land etc. In his letter Afridi requested Board of Investment to convince the concerned authorities for the issuance of five years Multiple Residence Card for prospective investors from China. He mentioned that this privilege will play as a catalyst to broaden the investment portfolio of Chinese.

Faisal Afridi explicated that “Citizenship by Investment” is a modern concept introduced and implemented in developed countries that has not only opened the doors to new ways of doing successful business, but also protected their wealth and ensured high quality of live for them, their families and for the generations to come.

He further pointed that common market rules and friendly business policies encourage more and more wealthy people around the Globe to come and invest. Faisal Afridi valued the endeavours of current government for prioritizing foreign Investor acceleration in the country.

He advocated policies combining corporate immigration with economic citizenship to aid investors’ particularly Chinese investors with more mobility and cross-border travel and to get access to new markets and business opportunities. By obtaining residence in active cities or by obtaining a passport that facilitates visa- free travel, a businessman gains easy access to international business platforms and is introduced to new industries, Afridi asserted.